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Aug 19, 2022

Target (TGT, $167.47) earnings drop -90%

Target posted its second quarter earnings that plunged almost -90%, while missing analysts' expectations.

The retail giant’s earnings for the quarter came in at $0.39 a share, vs. $3.65 a share a year ago. The figure is also well below FactSet's consensus estimate of $0.79 a share.

Revenue of $26.04 billion, up from $25.16 billion a year earlier. Analysts expected $26.03 billion.

Gross margin narrowed to 21.5% from 30.4% a year ago, in part reflecting higher markdown rates mainly due to inventory impairments and actions to deal with lower-than-expected sales in discretionary categories, and higher shipping costs.

The company’s inventory was $15.32 billion in the second quarter, rising from $15.08 billion in the first quarter and $11.26 billion in the year-ago quarter. "While these inventory actions put significant pressure on our near-term profitability, we're confident this was the right long-term decision in support of our guests, our team and our business," Brian Cornell, Target's chairman and CEO, mentioned. In June, TTarget had cautioned that  its profitability would be impacted due to its plans to lower prices in order to sell unwanted inventory.

Target projects  full-year revenue growth in the low- to mid-single digit range. It is expecting operating margin rate in a range of around 6% in the second half of 2022.

Related Ticker: TGT

TGT sees MACD Histogram just turned negative

TGT saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 03, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 38 instances where the indicator turned negative. In of the 38 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for TGT moved out of overbought territory on April 03, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 41 similar instances where the indicator moved out of overbought territory. In of the 41 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on April 09, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on TGT as a result. In of 81 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where TGT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where TGT advanced for three days, in of 330 cases, the price rose further within the following month. The odds of a continued upward trend are .

TGT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 272 cases where TGT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.672) is normal, around the industry mean (10.127). P/E Ratio (18.457) is within average values for comparable stocks, (23.639). Projected Growth (PEG Ratio) (2.545) is also within normal values, averaging (2.906). Dividend Yield (0.026) settles around the average of (0.025) among similar stocks. P/S Ratio (0.711) is also within normal values, averaging (1.200).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 50, placing this stock slightly better than average.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. TGT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

Notable companies

The most notable companies in this group are Walmart (NYSE:WMT), Costco Wholesale Corp (NASDAQ:COST), Target Corp (NYSE:TGT), Dollar General Corp (NYSE:DG), Dollar Tree (NASDAQ:DLTR), Big Lots (NYSE:BIG).

Industry description

Companies in the discount stores industry specialize in offering substantial discounts on a vast array of retail products. Some companies in this industry also operate general merchandise warehouse clubs. Products sold at discount stores are typically similar to those of any department store, but the pricing of the goods is generally much lower (and hence the name “discount”). Think Dollar General Corporation, Dollar Tree, Inc. and Five Below, Inc. Many discount stores target low-income households and/or price-sensitive consumers as their potential market. Discount stores’ profitability could hinge on factors like competitive pricing, sufficient locations, healthy revenue per square foot, and effective advertisement. These store operators could have an edge over other retailers during financial crises or recessions, when many consumers could be looking for less expensive alternatives.

Market Cap

The average market capitalization across the Discount Stores Industry is 67.7B. The market cap for tickers in the group ranges from 1.78K to 482.92B. WMT holds the highest valuation in this group at 482.92B. The lowest valued company is TUEMQ at 1.78K.

High and low price notable news

The average weekly price growth across all stocks in the Discount Stores Industry was -3%. For the same Industry, the average monthly price growth was -3%, and the average quarterly price growth was 13%. COST experienced the highest price growth at 1%, while BIG experienced the biggest fall at -17%.

Volume

The average weekly volume growth across all stocks in the Discount Stores Industry was 6%. For the same stocks of the Industry, the average monthly volume growth was -65% and the average quarterly volume growth was -4%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 47
P/E Growth Rating: 58
Price Growth Rating: 80
SMR Rating: 50
Profit Risk Rating: 49
Seasonality Score: -10 (-100 ... +100)
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General Information

a department and discount store

Industry DiscountStores

Profile
Fundamentals
Details
Industry
Specialty Stores
Address
1000 Nicollet Mall
Phone
+1 612 304-6073
Employees
415000
Web
https://corporate.target.com
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